150k Pesos is not expensive for what it sounds like you're getting. I got married in the Philippines in April and I would say that that was what about what I ended up paying. I know I was getting a fair price as my wife arranged most of it, dealing with family and local providers.
One cow = about 18000 pesos
One pig = about 4000 pesos.
...to give you an idea of what you should be paying for the meat. If it's in Manila though, probably add 1000-2000 pesos to those prices.
There were lots of guests at my wedding who I didn't know...But the thinking is that not only you invite people who are well known to you or your wife - family or friends - but those who are important to the family and village/community as a whole. A wedding is a really important community event, especially if it's a special one that would be way beyond the budget of most Filipinos. If one family member knows about a wedding, they'll also bring their relatives. It's normal.
So I'd say let your wife shine on her special day and go with the expense. The people who attend the wedding will have the chance to share a special experience they may not ever have again.
